Question: please show the work You are helping your uncle plan for his retirement. He expects to start his retirement precisely 6 years from now. His

please show the work

You are helping your uncle plan for his retirement. He expects to start his retirement precisely 6 years from now. His banker offered him a 20-year annuity for a cost of $400,000 today. It pays $1,500 per month at the beginning of each month of retirement He knew that you took the BUSA523 course and asks you to evaluate this opportunity for him. If the annual interest rate is 4% (EAR), you calculate a present value (today) for this annuity that is closest to

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